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CODA Collaborative Close Description
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CODA Collaborative Close addresses the period close by automating processes, making them more repeatable, controlled and visible.
That has two key impacts: it can make your close more efficient and often shorten it; but most significantly it underpins your corporate governance initiatives by making a normally chaotic and unpredictable process controlled and totally visible.
The reason that period close remains a problem is that previous solutions have focused on areas such as document processing and financial consolidation, as well as the reporting and analysis of the numbers. These do nothing to address a vital and overriding aspect of period close – it is a complex process: of collaboration between individual people; of chasing, collecting and confirming; of hassling and haggling; and of retyping and reformatting.
That’s why the process tends to take too long and to sap the resources and the strength of companies’ finance departments.
Thanks to CODA’s experience and unique insight into the finance function, combined with new technologies from Microsoft, we can now offer a solution that will make a real difference.
CODA Collaborative Close integrates with CODA-Financials (or other leading finance applications) and harnesses productivity technologies introduced in Microsoft Office 2003 to:
deliver efficient collaboration between all stakeholders and participants in period end
streamline, automate and integrate period-end processes
bridge the gaps between insular systems and inaccessible data across the organization.
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